In today’s briefing:
- SoftBank Plans to Complete IPO of Arm in September on NASDAQ
- Upgrading Financials to Market Weight; Shift to Value Continues. Buys in Energy, Financials, Mfg.
- PayPal: 3 Reasons Why I Am Optimistic After The Quarterly Results
- Disney’s Q3 2023 Earnings: A Pivotal Quarter To Appease Investors And Analysts
- Glencore’s H1 Earnings: The Market’s Not Impressed
- AEye, Inc. – 2Q23 Revenue In Line with a Lower Loss
- MariMed, Inc. – 2Q Revenue Expands While Adjusted EBITDA Declines
SoftBank Plans to Complete IPO of Arm in September on NASDAQ
- On 8 August, Nikkei Asia reported that Arm plans to complete its IPO on NASDAQ in September in a deal expected to be worth more US$60 billion or more.
- Global tech giants including Apple, Samsung Electronics, NVIDIA, and Intel are expected to invest in Arm once the company is listed on the market.
- The IPO offering amount is expected to be between $8 billion and $10 billion.
Upgrading Financials to Market Weight; Shift to Value Continues. Buys in Energy, Financials, Mfg.
- Fitch’s U.S. credit downgrade has done little to change the intermediate-term trend; we continue to believe the path of least resistance is higher for the major equity indexes.
- We remain bullish on the S&P 500, and we expect to see support at its 50-day MA moving forward (currently 4415).
- Short term supports we are watching include 4460-4475 on the S&P 500, $371.50 on the $QQQ, and $190-193 on the $IWM.
PayPal: 3 Reasons Why I Am Optimistic After The Quarterly Results
- PayPal stock has fallen dramatically on speculations regarding the near-term future.
- The market is now pricing-in significant deterioration of the company’s top or bottom line.
- The management is making the right moves to secure long-term competitive advantages, while also rewarding shareholders, according to the report.
Disney’s Q3 2023 Earnings: A Pivotal Quarter To Appease Investors And Analysts
- The main focus will remain on Direct-to-Consumer profitability, but areas such as the recently announced restructuring plan and pricing power in parks & experiences also deserve attention.
- The main focus is on the company’s Direct- to- consumer profitability.
- It has been three months since my latest update on The Walt Disney Company (NYSE:DIS) when I highlighted a number of reasons why the company is finally in a good position to deliver on its bottom line figures.
Glencore’s H1 Earnings: The Market’s Not Impressed
- Glencore plc’s first half earnings landed softer than most of its shareholders would’ve liked.
- We think a period of stability is near, but key indicators fail to suggest the miner is set for a steep recovery.
- Mining powerhouse, Glencore plc (OTCPK:GLCNF) released its first-half earnings results on Tuesday and delivered a few surprises by doing so.
AEye, Inc. – 2Q23 Revenue In Line with a Lower Loss
2Q23 revenue came in as expected at $0.6 million, while EPS was slightly better than expected at a loss of $0.07 versus consensus of a loss of $0.09.
CEO Matt Fisch said that the company has “taken a significant step forward this quarter in our path to commercialization in the automotive market” and “achieved major in-vehicle test milestones with three prestigious industry players, including NVIDIA and two global automotive OEMs.”
AEye’s progress with automotive RFQs (two finalists with four more RFQs in progress) has been based on its product’s performance and cost.
MariMed, Inc. – 2Q Revenue Expands While Adjusted EBITDA Declines
MariMed reported second-quarter revenue of $36.5 million, which was modestly ahead of our estimate of $36.0 million.
This is a 10.6% Y/Y increase in revenue and a 6.2% improvement Q/Q.
Higher revenue was driven by the opening of the adult-use Panacea Wellness Store in Beverly Massachusetts on April 25 and the Thrive Wellness medical dispensary in Tiffin, Ohio that opened on June 12. During 2Q, MariMed also benefited from its recent approval to begin manufacturing and selling high- dose edibles in Maryland.
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